thank you for being here. good luck, a tough day for you, sir. >> thank you. cheryl: president obama is asking congress to delay the major spending cuts coming next month, but his offer, a short term package of limited spending cuts and potentially more tax hikes is not flying with republicans. joining me now, the former economic adviser, ceo of cke restaurants, andy, thank you for being here. what do you think the president ends up proposing here? do you think he's going to did out to the carried interest? is it going to go after high income earners, what do you expect? >> it's good to be here, cheryl, thank you. i think that everybody recognizes we have to reduce the deficit. the deficit is out of control. the only reason we've been able to sustain this level of deficit is because the fed prints money and buys 70%-75% of the country's debt. that can't continue. if you're going to address the issues -- you know, this peace meal, kicking the can down the road, a couple more months, a couple more months, people are sick of that. address entitlements. they are 6